Radico Khaitan Ltd Share Price – NSE /  BSE

Alcoholic Beverages, Small Cap

Radico Khaitan announced that its flagship brand, After Dark Whisky, surpassed the momentous milestone of one million cases in November 2024.

After Dark Whisky is the 8th brand to enter the millionaires club, following the footsteps of brands such as Magic Moments Vodka, 8 PM Whisky, 8 PM Premium Black Whisky, Spirit of Victory 1965 Rum, Morpheus Brandy, Old Admiral Brandy and Contessa Rum.

Abhishek Khaitan, Managing Director of Radico Khaitan, commented on this incredible feat: “Surpassing the milestone of 1 million cases is a moment of immense pride for us. Last year, the brand grew by 50% and we are witnessing an exponential 80% growth till November of FY2025. After Dark stands tall in the Deluxe whisky category which has been the largest of the whisky segments in India and we are eagerly looking forward to continuing this journey and extending the After Dark legacy to new horizons. This success reflects the dedication and passion of our team, as well as the loyalty of our consumers who have embraced our brand.”

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Radico Khaitan Ltd is up for a fifth straight session today. The stock is quoting at Rs 2425, up 1.03% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.8% on the day, quoting at 24106.1. The Sensex is at 79691.9, up 0.82%. Radico Khaitan Ltd has gained around 0.54% in last one month.

Meanwhile, Nifty FMCG index of which Radico Khaitan Ltd is a constituent, has gained around 2.91% in last one month and is currently quoting at 57706.05, up 0.53% on the day. The volume in the stock stood at 67259 shares today, compared to the daily average of 2.02 lakh shares in last one month.

The PE of the stock is 110.97 based on TTM earnings ending September 24.

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Proit before tax (PBT) jumped 34.26% year on year (YoY) to Rs 111.85 crore in the quarter ended 30 September 2024.

Total Indian made foreign liquor (IMFL) volume fell 2.5% where as Prestige & above category volume grew 12.6%. Prestige & above net revenue growth was 18% compared to Q2 FY24. The company expects to continue to deliver a double-digit premium volume growth in FY25. Non-IMFL revenue growth was due to full distillery capacity utilization of the Sitapur plant which was commissioned during September 2023.

During Q2 FY25, A&SP was 5.6% of IMFL sales compared to 5.3% in Q2 FY24. On a quarterly basis, the amount may vary but we expect to maintain A&SP spend around 6% to 8% of our IMFL revenues to be able to drive the sales momentum.

EBITDA stood at Rs 162.4 crore, registering a growth of 34.7% on YoY basis. EBITDA margin expanded to 14.5% in Q2 FY25 as against 13% in Q2 FY24.

Gross Margin during the quarter was 43.6% compared to 44.1% in Q2 FY24 and 41% in Q1 FY25. Gross Margin was impacted YoY basis due to significant foodgrain inflation. However, improved 258 bps on QoQ basis due to the ongoing premiumization, and a stable raw material and packaging material scenario. The company cautiously monitors the trends of Grain and ENA where volatility persists and expects the trend to improve from Q3 FY25 onwards.

Dr. Lalit Khaitan, chairman & managing director, said, “We continued to deliver strong operational performance in Q2 FY2025, achieving 12.6% growth in the Prestige & Above category, along with sequential improvement in EBITDA margins. Radico Khaitan has achieved double-digit premium volume growth for 12 consecutive quarters. Over the past three years, we have faced unprecedented inflationary pressures, which impacted our operating margins.

However, by focusing on innovation and investing in our premium brand portfolio, we have successfully navigated these challenging times. With the worst of the input cost pressures behind us, we expect to continue delivering consistent and profitable growth. I am highly optimistic about the growth opportunities in the Indian alcobev sector and confident in our strategic roadmap, which will create long-term sustainable value for all our stakeholders.”

Abhishek Khaitan, managing director, said: “Q2 FY25 marked a significant turnaround in our operational performance, underscoring the strength of our robust business model. Innovation remains a core strength of Radico Khaitan, and in line with our strategy of expanding our luxury portfolio, we launched the newest expression of Rampur Indian Single Malt, Barrel Blush. Initially matured in American Bourbon barrels and finished in Australian Shiraz wine casks, it stands for tradition and expert craftsmanship.

Ahead of the festive season, we launched a new campaign for one of our most successful brands, Royal Ranthambore, featuring Bollywood star Saif Ali Khan, which is expected to elevate the brand to new heights. We are making strong progress on our strategic roadmap and remain confident in delivering results in line with our expectations.”

Radico Khaitan is among the oldest and one of the largest manufacturers of Indian-made foreign liquor (IMFL) in India. It is one of the few companies in India to have developed its entire brand portfolio organically.

The counter hit an all time high of Rs 2,525.50 in the intraday session.

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Net profit of Radico Khaitan rose 24.40% to Rs 80.66 crore in the quarter ended September 2024 as against Rs 64.84 crore during the previous quarter ended September 2023. Sales rose 20.68% to Rs 1116.30 crore in the quarter ended September 2024 as against Rs 925.00 crore during the previous quarter ended September 2023.

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